Community Bank N.A. increased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 13.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,186 shares of the industrial products company’s stock after acquiring an additional 1,200 shares during the period. Community Bank N.A.’s holdings in Caterpillar were worth $1,286,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of CAT. Tortoise Investment Management LLC lifted its stake in Caterpillar by 3,600.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 185 shares of the industrial products company’s stock valued at $25,000 after buying an additional 180 shares in the last quarter. Prestige Wealth Management Group LLC purchased a new stake in Caterpillar in the 2nd quarter valued at approximately $27,000. G&S Capital LLC purchased a new stake in Caterpillar in the 3rd quarter valued at approximately $38,000. Kavar Capital Partners LLC purchased a new stake in Caterpillar in the 2nd quarter valued at approximately $46,000. Finally, Garrett Wealth Advisory Group LLC purchased a new stake in Caterpillar in the 3rd quarter valued at approximately $47,000. 64.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CAT opened at $133.85 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $76.14 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 1.03 and a beta of 1.52. The stock’s fifty day simple moving average is $127.30 and its 200 day simple moving average is $128.92. Caterpillar Inc. has a twelve month low of $111.75 and a twelve month high of $144.77.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Monday, October 21st will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, October 18th. Caterpillar’s dividend payout ratio (DPR) is currently 36.72%.
A number of equities research analysts recently issued reports on the company. ValuEngine lowered Caterpillar from a “hold” rating to a “sell” rating in a research note on Thursday. Buckingham Research lowered Caterpillar from a “buy” rating to a “neutral” rating and reduced their target price for the company from $162.00 to $140.00 in a research note on Thursday, July 25th. Bank of America upped their target price on Caterpillar from $145.00 to $154.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup reduced their price target on Caterpillar from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, UBS Group reduced their price target on Caterpillar to $110.00 and set a “sell” rating on the stock in a research note on Thursday. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $135.99.
In related news, General Counsel Suzette M. Long sold 5,019 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $126.34, for a total value of $634,100.46. Following the transaction, the general counsel now directly owns 12,569 shares of the company’s stock, valued at approximately $1,587,967.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.37% of the company’s stock.
Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.
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